A well-constructed investment portfolio needs to take into account current expected real returns and not robotically follow outdated, and thus unrealistic, portfolio allocation assumptions from a different era.

The unleashing of professional sales & marketing for crypto-based investment products over the next few months will make 2018 The Year of the Crypto Asset Class.

It’s anyone’s guess when and at what level this bubble in bitcoin will burst.

The last thing I’d want to be right now is short bitcoin.

With a good sales & marketing team just about anything can and will be sold; especially a sexy new asset class.

Nonetheless, with respect to bitcoin, I still believe, as quoted in Forbes this month: “The price level and energy usage are unsustainable. There is far better technology emerging to meet the same needs.”

For Jason Escamilla, CEO of ImpactAdvisor, a wealth management firm that focuses on values-based investments, emotions and money are inextricably linked, as values-based investments are often driven by emotional responses to causes.

For example, an investor may choose not to invest in companies that he or she sees engages in practices detrimental to the environment.

"We view crypto-investing as driven by the greater fool theory of investing or speculation, and we genuinely mean that in a bullish way for now," says Jason R. Escamilla, CEO of ImpactAdvisor, a wealth management firm in San Francisco

"As an investor, you have to ask yourself, if you are getting into bitcoin today: what's your edge over the person selling to you? Simply looking at a chart showing the price rise is not enough," [for bitcoin or any other second-hand good that trades in a marketplace].

IMPACT ADVISOR LLC ("ImpactAdvisor") is an investment advisor registered in California. This website should not be construed as a solicitation or offer to sell investment advisory services or as an offer or recommendation to trade in any security. Financial services are only provided to investors who become ImpactAdvisor clients after entering into a written agreement. Past performance does not guarantee future results.